Current Securities Class Action Cases

Federman & Sherwood regularly posts press releases about new class action securities cases, which includes the class period and deadlines for appointment of lead plaintiffs. Please review any of the case listings below, and if you bought a security during the class period, we invite you to return an investor certification to our office. Our link to an investor certification for any of the cases can be found below each respective press release on that company. Once completed, please return to our office by email to rkh@federmanlaw.com or fax to (405) 239-2112.

Tesla, Inc. [NASDAQ: TSLA]

Oklahoma City, OK (October 11, 2017) – On October 10, 2017, a securities class action lawsuit was filed in the United States District Court for the Northern District of California against Tesla, Inc. (NASDAQ: TSLA). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is May 4, 2016 through October 6, 2017. More specifically, this litigation was filed defendants made false and/or misleading statements and/or failed to disclose that: (1) contrary to defendants’ representations that Tesla was prepared for the launch of its Model 3 sedan, in reality, Tesla had severely inadequate inventory and was woefully unprepared to launch Model 3 sedan as anticipated; and (2) as a result, Tesla’s public statements were materially false and misleading at all relevant times.

On October 2, 2017, the Company cited “production bottlenecks” as the reason for its failure to meet its production goals for its Model 3 sedan. On October 6, 2017, TheWall Street Journal published an article reporting, in part, that “[u]nknown to analysts, investors and the hundreds of thousands of customers who signed up to buy it, as recently as early September major portions of the Model 3 were still being banged out by hand, away from the automated production line, according to people familiar with the matter.” Following this news, Tesla’s stock price dropped.

Plaintiff seeks to recover damages on behalf of all Tesla, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, December 11, 2017 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

To join this class action, click here to obtain an investor certification. Once complete, please email this form to rkh@federmanlaw.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.